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Markets soaring for J&J decision


Markets

Nikkei 225

29,609.97

▲ +332.11 / +1.13%

SSE Composite

3,539.10

▲ +6.31 / +0.18%

IBOVESPA

106,334.54

▼ -1,260.13 / -1.17%

Straits Times

2,589.65

▲ +50.37 / +1.98%

BMV IPC

51,432.54

▼ -274.47 / -0.53%

Dow Jones

36,100.31

▲ +179.08 / +0.50%

DAX 30

16,094.07

▲ +10.96 / +0.07%

BSE SENSEX

60,686.69

▲ +767.00 / +1.28%

FTSE 100

7,347.91

▼ -36.27 / -0.49%

JSE Top 40

63,263.40

▲ +881.43 / +1.41%

Last Week’s Highlights

The division of Johnson & Johnson

The multinational company Johnson & Johnson is planning to get divided into two public companies. The pharma giant is looking forward to separating its personal care products from its pharmaceuticals. Alex Gorsky, CEO of the company, stated that the division is a decision to improve the service for patients and consumers. This change is expected to be effective in 18 to 24 months. The announcement of the division of Johnson & Johnson raised the price of its stock on the market.

Elon Musk getting rid of his shares

Elon Musk, CEO of Tesla, sold his company shares valued at approximately $700 million. It is the second batch of stocks sold during this week from one of the wealthiest businessmen in the world. Musk asked his social media followers if they agreed on the sale of 10% of his Tesla shares, which they supported. Up to last week, Tesla had lost $180 billion in market value.

Coming Up This Week

Rivian: The biggest IPO of the year

The initial public offering of Rivian Automotive Inc. is the biggest in 2021. The new electric vehicle manufacturer is backed by Amazon, which has helped gain a value of more than $100 billion. During Rivian’s first two days on the market, its shares jumped 57%. This has led the company to be the second most valuable automobile manufacturer in the US, only behind Tesla.

Moderna defends its Covid vaccine

During the first days of November, Moderna backed up its vaccine against Covid-19. The company stated that the risk that young men have to get myocarditis is tiny in comparison to the protection and effectiveness its two-shot vaccine provides. Moderna’s Chief Medical Officer, Dr. Paul Burton, affirmed the percentage of Covid-19 infections on people vaccinated with Moderna is lesser than the infections on people vaccinated with Pfizer or Johnson & Johnson. More than 71 million Americans are vaccinated with both doses of Moderna.

MARKET NEWS

European stocks have finished their sixth consecutive week with gains. The European STOXX 600 index got up 0.3%, up to a level of 468.75 points.
Blockchain and NFTs are the future of video games.

More Things to Sip On…

Fiverr stock rises 16.5% after better than expected gains.
US stocks jump in front of inflation pressure.
SpaceX is about to launch four more astronauts for NASA.

FlexACADEMY

“Successful investing is about managing risk, not avoiding it.”

– Benjamin Graham –

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